Belinka Holding acquired a 49.57% stake in Serbia-Montenegro's leading coatings manufacturer IBL Duga Holding
Belinka Holding acquired a 49.57% stake in Serbia-Montenegro's leading coatings manufacturer IBL Duga Holding on Monday, 12 September. The state now holds, according to the Serbian central registry, only around 33% of the Belgrade-based company.
Belinka Holding, a parent company of the Belinka group, entered the Serbian market in February, when it acquired a 24% stake in Duga through the Serbian company's majority owner Belfin.
In a second step towards implementing its development strategy of linking up with companies abroad, Belinka on Monday, 12 September bought stakes of two other Belfin partners, thus becoming the owner of 159,327 shares of Duga Holding, or nearly 50% of the company.
In a press release Belinka on Tuesday, 13 September also announced its plans to seize further business opportunities in Serbia-Montenegro with the help of the Belfin company.
Chemicals group Belinka associates five companies: parent company Belinka Holding; Belinka Perkemija, subsidiary making peroxide compounds; Belinka Belles, maker of wood coatings; chemicals producer Belinka KTM; and glue wing Belinka Kemostik. They employ a total of 303 people.
IBL Duga Holding also includes the companies Duga Pet and Duga Nova and exports its products to Russia, China and India, among other countries.
Source: Slovene Press Agency STA